A new pumpless liquid cooling system for a single-stage two-cylinder reciprocating compressor has been developed from the analysis of work processes and cooling systems of reciprocating compressors, where one piston compresses and moves gas and coolant in the cooling system. The intensification of the coolant movement increases in the machine, which can reduce the temperature of the cylinder–piston group and increase the indicator efficiency and the compressor feed rate. A mathematical model of working processes in a reciprocating compressor and its cooling system has been developed on the basic fundamental laws of conservation of energy, mass and motion. A prototype was developed and tested to obtain new knowledge about the processes in the machine and confirm the assumptions made while developing the mathematical model. After a series of experiments, the influence of cooling on the working processes in a reciprocating compressor, the technical work carried out in each working process, the energy and consumption characteristics of a reciprocating compressor with a developed cooling system were established. There was a validation performed of the developed mathematical model of work processes in the machine and the assumptions made. According to the developed mathematical model of work processes, a numerical experiment was carried out, which established: the coolant flow rate decreases with an increase in discharge pressure and increases with an increase in the crankshaft speed when the discharge pressure changes from 0.4 MPa to 0.8 MPa, a decrease in the indicator isothermal efficiency due to the leakage and non-isothermal nature of the compression process, as well as a decrease in the return work in the process of reverse expansion, leading to a decrease in the indicator isothermal efficiency of more than 15%; due to the equalization of pressures in the gas cavities with an increase in discharge pressure, the coolant consumption is reduced by (15 ± 17)%; with an increase in the angular speed of the crankshaft from 800 rpm to 1500 rpm, the coolant flow rate increases by more than 2.5 times, this increase in coolant flow rate is due to an increase in hydraulic resistance due to an increase in gas velocity; in the range from 1000 to 1200 rpm, a maximum of the indicator isothermal efficiency and compressor feed rate is observed; maximum indicator isothermal efficiency and the supply ratio is observed at a coolant flow rate in the range from 800 mL/min to 900 mL/min.